Saturday, April 18, 2009

What is the most important thing for a new business to succeed?

People.   

A business is not usually a one-person show.  Identifying, recruiting and retaining the best talent is absoultely critical.  When you find the right people, when you treat them like owners, when you empower and trust them to take risks and make decisions, when they clearly understand what is expected of them, when you treat them fairly, and when you allow them to share in the rewards of success .... then the sky is the limit.

Most successful new businesses are not those that are first with a new bright idea or product but rather those where the founders already have experience in.  Not having to spend as much time learning a new business, gives you time to focus on more important things..... like People.


 

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